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Thomas E. Conine, Jr. — just “Tom,” to us — can stir up a good mix of the theoretical and the practical, when it comes to finance.

As to the former, he’s a professor of finance at Fairfield University. As to the latter, he’s the president of a company himself, called TRI Corporation. And TRI brings the two together with its corporate finance education programs — which combine classroom learning with highly realistic, computerized simulations of problematic financial scenarios that the “students” work on in teams — for many of the largest companies in the country.

In this video he returns to the topic of variance analysis, explaining the fine points of different types of variances — in price, volume, cost, productivity — in the context of the slow-growth environment that much of the corporate world is experiencing today.